Financial and Banking News

AID FLOWS

IMF Lends $57mn to Jordan

The International Monetary Fund (IMF) will lend Jordan $57mn, according to an announcement on 19 January. The loan is repayable in five years and will carry a 6.6% annual interest. The funds will be used to support Jordan's balance of payments in the face of a drop in the country's income from exports (particularly phosphates), tourism and remittances from citizens working in the Arab oil-producing states, according...